Thermal Power Projects

Gujarat Gas Company to purchase RLNG from GSPC

2013-01-04T01:14:00.001-08:00

Gujarat Gas Company Ltd ( GGCL), a City gas distribution player has entered into an agreement with state-run Gujarat State Petroleum Corporation Ltd (GSPC) for purchase of 1.1 million standard cubic meters per day (mmscmd) of re-gasified LNG (RLNG) during January. This translates into about 33 per cent of the company's gas requirements for the month of January.

The company has on December 27, 2012 entered into an agreement with Gujarat State Petroleum Corporation Ltd for the purchase of RLNG

Interest burden of Indian companies at 9 year high

2013-01-04T01:02:00.001-08:00

The India Inc’s debt servicing capacity are much below the 2008-09 levels, the Reserve Bank of India (RBI) said in its financial stability report.

The corporate sector’s interest coverage ratio, which reflects the ability to service loans, has fallen, with real estate firms having the highest interest burden in the last four years. Interest expenditure is also on the rise in sectors such as textiles, iron and steel, and construction.
Interest expenditure as a percentage of sales was 3.6

Kolkata Port Trust (KPT) to impose royalty on cargo handlers

2013-01-03T22:34:00.001-08:00

Kolkata Port Trust is now planning to impose royalty on cargo service providers at the Haldia Dock Complex (HDC). With this move, the port authorities hope to overcome the losses it incurred due to the exit of ABG Haldia Bulk Terminals from berth No. 2 and 8 at HDC on October 28, 2012.

The Kolkata Port Trust has also sought legal opinion on the matter before it sends the proposal to the shipping ministry for their consent, as mandated by the Major Port Trusts Act.

Parle plays with price to branded namkeen

2013-01-03T22:23:00.001-08:00

Parle Products is adopting the lower pricing strategies to beat the unbranded players in the namkeen or traditional snacks category. The Mumbai based biscuits major is restricting prices at Rs 20 (100 gm) and offering an additional 25 per cent grammage in its Parle Namkeen brand. Playing on the price and value proposition, the purpose is to lure consumers to graduate to branded snacks in the already well penetrated traditional snacks category.
Today competition is mainly from the unbranded

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DLF Ltd. - buyer agreement abusive, amended CCI

2013-01-03T22:18:00.001-08:00

The Competition Commission of India (CCI) has modified the buyer-builder agreement in the case of ‘abuse of dominance’ by the country’s largest realty player DLF. At least 16 sub-clauses, found abusive and unfair have been deleted. The overall architecture of the agreement has been changed, according to the Commission, which changed the pact on the directions of the Competition Appelate Tribunal (Compat). The next hearing of Compat is on January 9, 2012
Calling it a model agreement for

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500 MW solar power complex in Chitradurga district

2013-01-03T21:43:00.001-08:00

Karnataka State Government has decided to construct a 500 MW solar power complex in Chitradurga district, instead of the Bijapur district. The decision to relocate the planned solar park was taken following widespread opposition to the plant in Bijapur. In September 2012, the government had announced plans for the project that was meant to include private sector investment. To be constructed in several phases starting with 100 MW capacity in the first phase, the solar park is part of

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500 MW solar power complex in Chitradurga district

2013-01-03T20:49:00.001-08:00

Air India forced to withdraw from Northeast fleets

2013-01-03T20:46:00.001-08:00

Alliance Air, a subsidiary of Air India is about to withdraw its flights from seven Northeast airports, including those in Tezpur, Lilabari and Shillong, post non-payment of funds by the North Eastern Council (NEC) from January 1, 2013. However, Alliance Air will be operating from Guhawati, Silchar and Imphal, the important destinations in the regions.
These aircrafts, the 60-seater ATR turboprops now redeployed to profitable routes. The NEC finances Alliance Air’s operations each year

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Air India forced to withdraw from Northeast fleets

2013-01-03T20:41:00.001-08:00

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Revival of Hitachi and lessons learnt

2013-01-03T02:20:00.001-08:00

Hitachi has staged an impressive turnaround, booking a record 347 billion yen ($4 billion) in net profit in the year through March 2012 as against its 787 billion yen, or $9.2 billion, loss in 2009, while rivals like Sony, Sharp and Panasonic continue to struggle in FY 2012.
Hitachi, a city of 190,00 and the company’s longtime production hub, there is little celebrating. Instead, the deserted streets and shuttered workshops speak of the heavy toll levied by the aggressive streamlining,

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Economy push to the next level of growth

2013-01-03T02:08:00.001-08:00

The Indian economy in 2012 has gone through stress in the form of dwindling investor confidence and uncertain markets on account of the various concerns which have been plaguing the nation for some time now. These issues can broadly be classified as high inflation, high twin deficits (Fiscal Deficit and Current Account deficit), policy paralysis and perception impacting events like 2G scam, Coalgate scam, etc.
Lower inflation and inflationary expectations:
Inflation has taken its toll on the

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Half of malls in India are vacant

2013-01-03T01:59:00.001-08:00

Over half of the total number of malls in the Delhi-NCR region are vacant due to reasons like economic slowdown, poor designing and lack of robust revenue generation model, a survey by Assocham has said. The total rate of vacancy in malls in Delhi-NCR is 55 per cent, while in Mumbai it is 52 per cent followed by Ahmedabad (51 per cent), Chennai (50 per cent), Hyderabad (48 per cent), Bangalore (45 per cent).
It said that construction of several malls have significantly been delayed and

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Coal blocks reallocation to NTPC

2013-01-03T01:41:00.001-08:00

Power Ministry is awaiting procedural clearances related to re-allocation of three coal blocks to NTPC before moving ahead with the over Rs 12,000 crore disinvestment plan for the state-run utility. The government has decided to re-allocate three coal blocks i) Chatti Bariatu, ii) Kerandari and iii) Chatti-Bariatu (South) to NTPC but all the necessary clearances are not in place.
The reallocation will help the company in getting better valuations at the time of disinvestment. The issue is

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Essel into investment Banking and private equity

2013-01-03T01:33:00.001-08:00

The $4 billion media conglomerate, Subhash Chandra owned group 'Essel Group' has made a foray into financial services sector in India. Essel Group already has presence in areas of media (Zee Entertainment Ltd, Zee News Ltd and DNA), Technology (Dish TV, Wire Wireless India), Packaging (Essel Propack), Entertainment (Playwin, Fun Multiplex), Infrastructure (Essel Infraprojects, E-City Real Estate, Siti Energy Ltd) and Education (Zee Learn).
Essel has set up a new arm Essel Financial Services

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Empowered Group of Ministers on telecom to meet again

2013-01-03T01:27:00.001-08:00

An Empowered Group of Ministers (EGoM) on telecom today deliberated upon several issues regarding spectrum auction due this fiscal, but did not reach a final decision and would meet again on January 7, 2013. EGoM deliberated on 1800/900 MHz spectrum but it could not discuss CDMA (800 MHz). Auction does not seem possible by January 18 but will take place during this fiscal. The telecom companies, whose licences have been cancelled by the Supreme Court order, are allowed to offer their services

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Goldman Sachs MF's arbitrage schemes found no takers?

2013-01-03T01:24:00.001-08:00

Goldman Sachs Asset Management (GSAM), the mutual fund arm of the US investment bank, has decided to wind down two of its equity schemes following poor investor response. Goldman Sachs Derivatives Fund and Goldman Sachs Equity and Derivatives Opportunities fund had assets of less than Rs 10 crore between them and were managed by fund managers Gauri Sekaria and Vishal Jain, respectively. The fund house claimed that “the advent of technology in the stock markets” has considerably reduced the

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Flying out of Delhi cheaper

2013-01-02T20:32:00.001-08:00

Airport Economic Regulatory Authority (AERA) revising the airport development fee for both domestic and international passengers which will make flying out of Delhi cheaper. The move will effect from January 1, 2013. Accordingly, the domestic and international travellers will be charged Rs 100 (instead of current Rs 200) and Rs 600 (instead of Rs 1,300) in development fee respectively. The fee will remain in place till April 2016.
However, the period of levy has been extended by about two

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Net worth rose by $241 billion for World's 100 richest

2013-01-02T20:22:00.001-08:00

Global stocks soared in 2012. The MSCI World Index gained 13.2 per cent during the year to close at 1,338.50 on December 31. The Standard and Poor’s 500 Index rose 13.4 per cent to close at 1,426.19. European stocks surged in the second half of the year. The Stoxx Europe 600 is up 19.6 per cent since June 4, advancing as the European Central Bank introduced bond buying programmes, SP upgraded Greece’s debt and German business confidence rose more than forecast. The benchmark gauge’s 14.4

Net worth rose by $241 billion for World's 100 richest

2013-01-02T20:19:00.001-08:00

Etihad airways buying 24% in Jet airways

2013-01-02T20:06:00.001-08:00

Abu Dhabi based airlines, Etihad Airways (Ethiad) is about to buying 24 per cent stake in Jet Airways at cost in the range of Rs 1,500-1,800 crore deal, likely to be concluded within ten days. Etihad’s investment in Jet would be the first by a foreign aviation company in an Indian aviation company as the sector was opened up to foreign investment last year.
The cost of Rs 1,500 to 1,800 crore deal would mean Etihad paying a 25-50 per cent premium on closing price of Rs Rs 579.60 on the NSE.

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Etihad airways buying 24% in Jet airways

2013-01-02T20:03:00.001-08:00

Telcos pay onetime fee of Rs 20,000 cr

2013-01-02T06:37:00.001-08:00

The telecom companies (Telcos) have been asked by the Department of Telecom (DoT) asking operators with excess spectrum to pay the one-time charges from January 1 onwards. Six incumbent operators have to pay a total of Rs 20,115 crore to the Government for holding spectrum beyond 4.4 Mhz. Among the private players Bharti Airtel has to pay the maximum of Rs 4,281 crore, followed by Vodafone at Rs 2,969 crore.
The state-owned Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd are

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Telcos pay onetime fee of Rs 20,000 cr

2013-01-02T06:35:00.001-08:00

Distribution companies reform is on card

2013-01-02T06:31:00.001-08:00

India’s power sector reforms in 2013 would be led by the distribution segment (Discoms) with the newly-announced debt restructuring package for state utilities. The Centre has backed the package with measures to ensure it does not meet the same fate as the one-time-settlement scheme of 2001. The most states have defeated political interference on revising retail rates, which will show in healthy balance sheets of distribution companies.
The distribution sector reform coupled with easing fuel

Reliance commissions Butibori power project

2013-01-02T01:25:00.001-08:00

Reliance Power Ltd (RPL) announced that it has commissioned the 300 MW unit of its Butibori power plant (the second unit to be commissioned at Nagpur in Maharashtra. This will help ease power availability for industrial units and distribution utilities in the power-starved state of Maharashtra.
The first 300 MW unit of the Butibori project was commissioned in August this year. With the coming of the second unit on-stream, the total operating capacity of the Anil Dhirubhai Ambani Group

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